(Singapore, 14.02.2025) In its latest earnings disclosure, Wynn Resorts, Limited (NASDAQ: WYNN) reported that its fourth quarter operating revenues for 2024 held steady at $1.84 billion, mirroring the figures from the corresponding period in 2023. However, the company’s net income saw a significant dip to $277.0 million in Q4 2024, down from $729.2 million in the prior year, primarily due to the absence of a hefty tax benefit that boosted the earlier results.
For the full year, Wynn Resorts celebrated a record-setting Adjusted Property EBITDAR, marking a continued upward trajectory in operational efficiency across its portfolio, particularly with robust yearly increases at its Las Vegas and Macau properties.
Craig Billings, CEO of Wynn Resorts, emphasized the sustained operational excellence, stating, “2024 marks another year of record-setting Adjusted Property EBITDAR, fueled by our strong performance in Las Vegas and strategic gains in Macau’s market share across both premium mass and VIP sectors.” He also highlighted the ongoing construction of the Wynn Al Marjan Island project in the UAE, which promises to be a top-tier tourist destination upon its slated 2027 opening.
Wynn’s Las Vegas operations slightly grew with a marginal revenue bump, while its Macau ventures displayed mixed results; Wynn Palace surged ahead with increased earnings, but Wynn Macau faced a revenue decline. The company also reported a minor setback at its Encore Boston Harbor property.
Despite a challenging year overshadowed by high comparatives due to prior tax benefits, Wynn Resorts has declared a quarterly cash dividend of $0.25 per share, signaling confidence in its financial health and commitment to shareholder returns.
The company’s strategic stock repurchase plan also continued robustly, with over 2 million shares bought back in the fourth quarter alone, underscoring its proactive capital management strategy.
As Wynn Resorts moves forward, the focus remains on completing its ambitious UAE project, optimizing global operations, and enhancing shareholder value through strategic financial maneuvers and innovative luxury hospitality offerings.
